Cheer Up Your Tenants This Summer
The 2022 summer season is not far off now. Quite a few landlords and tenants have been through “H E double hockey sticks” and are in need of some mood-lifting fun, socialization, and adventure.
These beautiful, warm months only happen once a year. What’s more appropriate than using some fun event or party ideas to improve bottom lines and create strong, lasting links between tenants and the landlord?
While everyone’s mood is their own responsibility, it makes sense to be proactive. Elevating tenant moods might do more for your balance sheet than anything you’re currently doing right now.
And this is especially so if you’re typically all-business in your communications and tenant relations and if you need to raise rents this year. You may even want to hire new property management staff who have high emotional intelligence, and are more engaging and fun oriented.
What’s the Point of Elevating the Mood of Tenants?
These people create your livelihood and they’re worth it. Unhappy depressed tenants create all sorts of issues which increases your workload, and weighs down your property management staff.
You’re really a manager of people, not properties. Show tenants and staff the power of flourishing and being optimistic and your days will flow a lot easier. Instead of words, how about being the positive change yourself and by creating what’s needed for a cheerful environment?
Building Brand and Capturing Landlord Leads
Your future landlord clients will be impressed with this compassionate proactive management of their tenants. If you’re looking to build an edge on rival property management companies, this is one area they might not want to tackle. An easy win for enormous business payoffs.
Treat your positivity efforts as though it’s part of a big trend in society this year and encourage tenants to own their own mood. Speak positive, smile, compliment tenants, show gratitude and say thank you, and associate your property management brand with positive events, images and people.
It’s the perfect time to power up your brand image – what really drives your business success.
Top Benefits of Raising Tenant Moods:
- reduces renter churn and increases likelihood of lease renewal
- improves communication between tenants and property management
- decreases complaints and maintenance calls
- supports the culture and mood in multifamily rental developments
- makes tenants amenable to rising rent prices
- increases the quality of life for tenants
- encourages landlords and property managers to introduce new amenities
- encourages landlords and property managers to upgrade houses, and do landscaping and gardening
- makes properties more attractive to new prospective renters
Sometimes changes you can make are symbolic but tenants get the message that you care. And these changes can improve the value of the property, raise rent asking prices, and make a property more attractive to a wider range of renters.
Even with single family house renters, positive communications is supportive of your rental relationship.
We’ve discussed the value of improving outdoor amenities and holding tenant parties. These definitely make a lifestyle statement. Preparing a summer party on green, landscaped lawns really sets your rental culture on an upward trend.
HOA managers too can put an emphasis on bringing residents together in community centers and common areas to create a new post pandemic vibe.
Ideas to Wipe Away the Pandemic Blues
Few people recognize how harmful the pandemic was to the mood and positivity of communities. And with inflation eating away at earnings, the parade of depressing things never ends. Time to take action!
- repaint your building lobby — new colors do count
- give house rental tenants funds for lawn care and flower gardening
- install a fancy new, modern kitchen faucet
- hold a contest for sports tickets at major sporting event or a free gasoline card
- write positive, optimistic blog posts on your marketing website about good things in the community
- hold a kids party with arcade machines, music, inflatable playgrounds, and a bbq
- hold an ice-cream/cold beverage party and hire some local jazz musicians
- hold a tenant appreciation party with some nice prizes, good food, and a even a dunk the landlord pool
- use your property management’s tenant portal to communicate about events, and start sending positive messages when possible to gradually lighten the mood this year
- send out 4th of July celebration e-cards with a discount card for use at a local shop
- encourage tenants to get out and travel, even for mini-vacations (travel is a great mood lifter)
- give out gift cards for events or recreational facilities out of town to encourage tenants to really emerge from their Covid isolation
Tenant Surveys to Keep up on Your Tenant’s Attitude
After you’ve made changes and held some party/celebration events, conduct on online survey of tenants to gauge their optimism and feelings. Chances are, you’ll find they will be less tense and more certain they will continue renting from you.
Tenants rely on their home life to recharge their batteries so to speak and this has dramatic effects on their social behavior and performance at work. Landlord clients will appreciate your ability to jump in to contribute this added value.
It’s simply wise to be proactive at a time when it can work for everyone. Start planning some parties and contests and you’ll see positive results.
We’ve written previous posts on how to make tenants happy and it’s still worth a read. Another post on reducing tenant churn might hint at the real value of taking action to improving the tenant experience.
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